The state Division of Banks this week received certificates of accreditation certifying that it maintains the highest standards and practices concerning banking, credit union and mortgage supervision.

"This reaccreditation confirms that the division’s regulatory programs are strong and positioned to protect Massachusetts consumers while ensuring the safety and soundness of the state financial system," Commissioner of Banks David Cotney said in a statement. "Because of the CSBS, NASCUS and AARMR joint review, the division was able to obtain several accreditations at once, saving time and allowing the division to focus more of its resources on supervision."

Massachusetts achieved accreditation across all three programs as part of a joint pilot program between the Conference of State Bank Supervisors (CSBS), the National Association of State Credit Union Supervisors (NASCUS) and the American Association of Residential Mortgage Regulators (AARMR).

This is the division’s fifth bank accreditation. Its first accreditation happened in 1994. Massachusetts was first accredited by NASCUS in 1996, and it earned its initial mortgage accreditation in 2008. The division’s mortgage accreditation was the first awarded as part of the nationwide program.